Market Insights
Poultry is a common and highly popular source of lean protein, as such the demand for poultry has increased considerably, and with it the demand for poultry feed. Market Research Future’s study on the global poultry feed market has revealed expected growth over a forecast period of 2022 to 2030.
The report includes an impact assessment of various factors affecting the market and also reveals a number of important figures relevant to the global poultry feed market size for the assessment period.
Poultry Feed Market Size is Estimated to Reach to USD 218 Billion by 2030 at 6.4% CAGR By 2022–2030, Due to Increase in demand for poultry meat products
The rapid growth in global population appears to be unceasing, and this, combined with urbanization, and an increase in disposable income has placed a high demand for poultry. Increased poultry farming activities to meet the soaring demand for lean protein has significantly contributed to the growth of the global poultry feed market. Moreover, growing health consciousness, and the recognized health benefits of lean protein due to a high obesity rate and other chronic diseases, is expected to promote demand for poultry. Emerging economies have rising disposable income due to rapid urbanization, thus driving the demand for poultry. Moreover, these countries are increasingly becoming aware of the nutritional benefits of lean protein, and are adopting poultry into their diets, this increasing demand for poultry feed indirectly.
Trends in the market are changing; however, due to the increasing vegan population, market growth is restricted. Moreover, with increasing awareness regarding animal husbandry activities, consumers are wary of purchasing poultry from large production farms as they are often pumped with growth hormones and other ingredients that may present long-term ill-effects from consumption. This has, in turn, encouraged market players to research and develop affordable natural poultry feed options and shift toward more ethical poultry raising activities in an effort to retain and increase consumer base, thus presenting market opportunity.
For more info: https://www.marketresearchfuture.com/reports/global-poultry-feed-market-1290
Market Segmentation
The global poultry feed market is segmented in MRFR’s report on the basis of source, form, type, and region. Sources of poultry feed have been segmented into vegetable proteins, animal proteins, coarse grains, micro-ingredients, and others.
Forms of poultry feed have been segmented into pellets, crumbles, mash, scratch grain, and others.
Types of poultry feed are segmented on the basis of the types of poultry which include layers, broilers, and dual purpose.
Regional Analysis
North America was observed to represent the largest share of the global poultry market due to the high consumption of poultry by a large meat-eating population. Chicken and other poultry such as turkey are widely consumed in various forms such as processed and fresh meats. The region has a concentration of leading market players which have contributed to the regions significant market position. Europe and Asia Pacific are other key markets in the global poultry feed market. Asia Pacific is a rapidly growing market due to the rising disposable income in rapidly urbanizing and emerging markets such as India and China. India for instance, is a large consumer of chicken in terms of meat among other types of meat, thus driving the demand of poultry which in turn increased the demand for poultry feed.
Key Players
Several important players participating in the global poultry feed market have been profiled in MRFR’s report. These players include Kemi Industries, Novozymes, Chr. Hansen, Alltech, Cargill, BASF SE, Archer Daniels Midland Company, and Evonik Industries. Their growth strategies and Poultry feed market shares have been included in the report.
Latest Industry News
· Georgia Tech’s startup accelerator program has supported the growth of Grubbly Farms, which is a startup for chicken feed created from pre-consumer food waste for the production of sustainable poultry feed via the use of insects.
Adisseo has partnered with the Agricultural department of the University of Arkansas for the research regarding animal nutrition in the poultry industry.
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